Freshpet, Inc. income statement
In fiscal 2025, Freshpet, Inc. reported revenue of $1.10bn, up 13.0% on the year before, operating income of $75.7m (a 6.9% margin) and net income of $139m, or $2.64 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 44 | 63 | 87 | 116 | 130 | 152 | 193 | 246 | 319 | 425 | 595 | 767 | 975 | 1,102 | 1,177 |
| Cost of revenue | — | — | — | — | 69 | 80 | 103 | 132 | 186 | 263 | 409 | 516 | 579 | 652 | 690 |
| Gross profit | 21 | 27 | 42 | 55 | 60 | 72 | 90 | 114 | 133 | 162 | 186 | 251 | 396 | 450 | 487 |
| Research and development | — | — | — | — | 0 | 0 | 1 | 1 | 1 | — | — | — | — | — | — |
| Selling, general and administrative | 35 | 40 | 48 | 58 | 63 | 75 | 95 | 114 | 135 | 187 | 238 | 281 | 358 | 374 | 392 |
| Operating income | −15 | −12 | −6 | −4 | −2 | −3 | −5 | −0 | −2 | −25 | −52 | −30 | 38 | 76 | 95 |
| Interest expense | 2 | 3 | 5 | 0 | 1 | 1 | 0 | 1 | 1 | 3 | 5 | 14 | 12 | 14 | 14 |
| Income before tax | −19 | −22 | −37 | −4 | −3 | −4 | −5 | −1 | −3 | −28 | −55 | −32 | 48 | 71 | 158 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | −68 | −45 |
| Net income | −19 | −22 | −37 | −4 | −3 | −4 | −5 | −1 | −3 | −30 | −59 | −34 | 47 | 139 | 203 |
| Diluted EPS | −$2.56 | −$2.91 | −$9.63 | −$0.11 | −$0.09 | −$0.12 | −$0.15 | −$0.04 | −$0.08 | −$0.69 | −$1.29 | −$0.70 | $0.93 | $2.64 | $3.43 |
| Diluted shares (average) | 10m | 10m | 14m | 33m | 34m | 34m | 35m | 36m | 40m | 43m | 46m | 48m | 50m | 56m | 59m |
| EBITDA | −10 | −6 | 0 | 4 | 8 | 10 | 9 | 15 | 19 | 5 | −18 | 28 | 107 | 162 | 189 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 253 | 263 | 263 | 265 | 289 | 285 | 298 | 306 |
| Cost of revenue | 151 | 151 | 159 | 156 | 175 | 162 | 177 | 177 |
| Gross profit | 102 | 112 | 104 | 108 | 114 | 123 | 121 | 129 |
| Selling, general and administrative | 90 | 92 | 115 | 90 | 89 | 79 | 116 | 107 |
| Operating income | 12 | 19 | −11 | 18 | 25 | 44 | 4 | 22 |
| Interest expense | 3 | 4 | 3 | 4 | 4 | 3 | 4 | 3 |
| Income before tax | 12 | 19 | −13 | 16 | 24 | 43 | 66 | 26 |
| Income tax | 0 | 0 | 0 | −0 | −78 | 10 | 17 | 6 |
| Net income | 12 | 18 | −13 | 16 | 102 | 34 | 49 | 19 |
| Diluted EPS | $0.24 | $0.36 | −$0.26 | $0.33 | $1.86 | $0.64 | $0.91 | $0.39 |
| EBITDA | 31 | 37 | 9 | 38 | 49 | 66 | 28 | 46 |
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